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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Prysmian S.p.A.    PRY   IT0004176001

PRYSMIAN S.P.A.

(PRY)
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Prysmian S p A : Italy's Prysmian updates full-year guidance, says margins stable

07/30/2020 | 09:42am EST

Italy's Prysmian issued fresh guideance for its full year operating profits on Thursday and said margins had remained stable in the first half even while the coronavirus crisis caused an 11.8% drop in sales.

The world's largest cable maker, which withdrew full-year guidance in May after a slump in earnings at the start of the crisis, said it expected adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 800-850 million euros (722-768 million pounds).

Adjusted EBITDA reached 419 million euros in the first half, against 521 million a year earlier but margins remained stable at 8.4% against 8.9%. The result topped a company-provided market consensus of 384 million euros.

Sales reached 4.985 billion euros, an 11.8% drop in organic terms, the group said. It said strong results in North America, especially in the energy and infrastructrure segment softened the effect of the coronavirus slowdown, while the telecoms and high-voltage cables segments both suffered.

"The results of the first half of the year are characterised by the essential stability of the business and the further reinforcement of financial solidity," Chief Executive Officer Valerio Battista said in a statement.

Net financial debt fell to 2.516 billion from 2.819 billion, a year earlier, to strong cash generation, it said.

In May, Prysmian withdrew its 2020 guidance after the coronavirus crisis triggered a 15% fall in first-quarter core profits, with the fallout expected to last into the second quarter.

(Reporting by James Mackenzie)


© Reuters 2020
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Financials
Sales 2020 10 213 M 12 430 M 12 430 M
Net income 2020 230 M 280 M 280 M
Net Debt 2020 2 061 M 2 508 M 2 508 M
P/E ratio 2020 34,9x
Yield 2020 1,48%
Capitalization 7 450 M 9 048 M 9 068 M
EV / Sales 2020 0,93x
EV / Sales 2021 0,85x
Nbr of Employees 29 000
Free-Float 91,6%
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Prysmian S.p.A. Technical Analysis Chart | PRY | IT0004176001 | MarketScreener
Technical analysis trends PRYSMIAN S.P.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 28,94 €
Last Close Price 28,30 €
Spread / Highest target 20,1%
Spread / Average Target 2,27%
Spread / Lowest Target -15,2%
EPS Revisions
Managers and Directors
NameTitle
Valerio Battista Chief Executive Officer, Executive Director & GM
Claudio de Conto Chairman
Andrea Pirondini Chief Operating Officer
Pier Francesco Facchini CFO, Executive Director & Head-IT
Marcelo de Araujo Andrade Senior Vice President-Research & Development